VINCENT MINAZZO : revenue, balance sheet and financial ratios

In 2024, VINCENT MINAZZO achieves revenue of 964 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +21.3%. Vs 2023: +9%. After deducting consumption (91 k€), gross margin stands at 872 k€, i.e. a rate of 91%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 74 k€, representing 7.7% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -37%, reducing margin by 5.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 32 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 55%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 191.85. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 5.3x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 99 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 17 days. The gap of 82 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 39 days of revenue, i.e. 106 k€ to permanently finance. Over 2016-2024, WCR increased by +513%, requiring additional financing.

Based on 125 transactions of similar company sales (all years), the value of VINCENT MINAZZO is estimated at 225 311 € (range 91 788€ - 378 873€). With an EBITDA of 74 049€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.35x (conservative valuation). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.